- Walmart-owned Flipkart partnered with Paytm for the payment gateway service.
- Through this partnership, customers will now be able to pay through Paytm on the checkout page.
- Flipkart has started integrating Paytm on its platform as it continues to compete with the PhonePe in online payments service.
Walmart-owned e-commerce platform Flipkart has partnered with Paytm for the payment gateway service in its platform.
Through this partnership, Flipkart customers will be able to pay through Paytm wallet on the payment/checkout page.
Flipkart has now started integrating the Paytm payment gateway in its platform even as it continues to compete with (Flipkart-owned) PhonePe for the online payments service.
Paytm, An Indian online payment system provided founded in August 2010 by Vijay Shekhar Sharma, is one of India's first and leading digital wallet companies.
Paytm is currently competing with GPay and Flipkart owned PhonePe in both UPI and digital wallet payments. According to the report by Zinnov, During lockdown Paytm had 39M+ daily active users which were more than the GPay and PhonePe's daily active users.
Furthermore, Paytm has continued to manage its growth in the country where other top competitors like GPay and PhonePe are also offering cashback and signup offers to the customers.
Moreover, Flipkart will complete the integration of Paytm in its platform before the Diwali arrival. One of the noticeable reasons for partnering with Paytm is to reduce the amount of COD (cash on delivery) orders in small towns and cities.
According to the Paytm statement, They are having 60% of its total users from small cities and villages. Hopefully, The partnership with Paytm will benefit in decreasing the COD orders in the platform.
"It is our continuous endeavor to work with ecosystem partners to provide customers with digital transaction possibilities. We continually focus on developing inclusive solutions and forging partnerships where necessary to enable secure, convenient, and new ways of transacting online," said, a Flipkart spokesperson in a statement.